Sharm El-Sheikh, 12 November 2022:
The King Abdullah Petroleum Studies and Research Center (KAPSARC) recently launched the second edition of the Circular Carbon Economy (CCE) Index at the UN Climate Change Conference in Sharm El-Sheikh (COP 27). The launch took place during the event, “Measuring Performance and Enablers for Net-Zero Transition Worldwide.”
“The CCE is a concept that is dear to us at KAPSARC because we truly believe in its value in promoting effective net-zero transitions. The CCE draws attention to the need to manage energy and carbon flows holistically, with each country and actor contributing based on their strengths and priorities.” Dr. Fahad M. Alturki, KAPSARC’s Vice-President of Knowledge and Analysis, said.
The CCE concept was also endorsed by the G20 in 2020 as a holistic and inclusive approach to managing and reducing carbon emissions. The CCE is based on four ‘Rs,’ with ‘remove’ added to the three well-known Rs of reducing, recycling and reusing.
At the launch of the 2022 edition, Alturki highlighted that the number of countries included in the Index had increased from 30 to 64. It now covers approximately 90% of the world’s economy and carbon dioxide emissions.
In the 2022 edition, five European countries, Norway, the Netherlands, Germany, the United Kingdom and Switzerland, top the CCE Index. At the bottom are five Sub-Saharan African countries. The gap between the top and bottom performers is notable. This indicates that countries, particularly toward the bottom of the list, will need significant assistance to successfully transition to CCEs.
Many countries are not yet deploying some of the most important technologies necessary to achieve full carbon circularity. In the 2022 CCE Index, 57 countries improved their total CCE Index scores year-on-year, with seven seeing a deterioration.
Fatih Yilmaz, a Fellow in the Climate and Sustainability Program at KAPSARC and one of the co-authors of the CCE Index, noted that the most challenging task for many countries will be how to address the large gaps in CCE enabling factors, such as technology and access to sustainable finance.
Thamir Alshehri, Research Lead in KAPSARC’S Climate and Sustainability Program and another co-author of the Index, explained that the Index is a data-based tool aimed at supporting policymakers in developing carbon management and other mitigation policies. It does so by focusing on countries’ current performances on different CCE metrics, and their potential to accelerate their transitions toward carbon circularity and net-zero emissions.
Mari Luomi, Research Fellow at KAPSARC and the CCE Index project lead, added: “We hope that, with the expanded country coverage, the CCE Index can provide a new lens and concrete quantitative metrics for countries worldwide to examine their net-zero transitions, to identify strengths and weaknesses, challenges and opportunities, and to manage these so that we can all collectively achieve the goals of the Paris Agreement for a prosperous climate-safe future.”
This news appeared on Arab News